Nextera Energy Partners LP (NYSE:NEP) has been given an average rating of “Hold” by the nineteen research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $40.38.
NEP has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Nextera Energy Partners from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Guggenheim initiated coverage on shares of Nextera Energy Partners in a report on Tuesday, January 2nd. They set a “buy” rating and a $45.00 price target for the company. Morgan Stanley raised shares of Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 price target for the company in a report on Tuesday, December 12th. Credit Suisse Group initiated coverage on shares of Nextera Energy Partners in a report on Thursday, December 7th. They set an “outperform” rating and a $44.00 price target for the company. Finally, TheStreet downgraded shares of Nextera Energy Partners from a “b” rating to a “c+” rating in a report on Thursday, October 26th.
Shares of Nextera Energy Partners (NYSE NEP) traded up $0.78 during trading hours on Tuesday, hitting $40.18. 106,852 shares of the company’s stock were exchanged, compared to its average volume of 341,736. Nextera Energy Partners has a 1 year low of $30.08 and a 1 year high of $45.38. The firm has a market cap of $2,050.37, a price-to-earnings ratio of -33.19, a PEG ratio of 1.70 and a beta of 1.16. The company has a debt-to-equity ratio of 2.04, a quick ratio of 3.20 and a current ratio of 3.20.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Monday, February 5th will be paid a $0.405 dividend. This is an increase from Nextera Energy Partners’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $1.62 annualized dividend and a yield of 4.03%. Nextera Energy Partners’s dividend payout ratio is presently -135.00%.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Nextera Energy Partners by 9.9% in the 2nd quarter. BlackRock Inc. now owns 3,262,280 shares of the solar energy provider’s stock valued at $120,672,000 after purchasing an additional 293,830 shares during the last quarter. Jennison Associates LLC lifted its stake in Nextera Energy Partners by 0.4% in the 4th quarter. Jennison Associates LLC now owns 2,503,347 shares of the solar energy provider’s stock valued at $107,919,000 after purchasing an additional 9,953 shares during the last quarter. Reaves W H & Co. Inc. lifted its stake in Nextera Energy Partners by 3.3% in the 3rd quarter. Reaves W H & Co. Inc. now owns 1,444,248 shares of the solar energy provider’s stock valued at $58,189,000 after purchasing an additional 46,025 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its stake in Nextera Energy Partners by 34.0% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 1,014,450 shares of the solar energy provider’s stock valued at $43,733,000 after purchasing an additional 257,500 shares during the last quarter. Finally, Eaton Vance Management lifted its stake in Nextera Energy Partners by 11.8% in the 4th quarter. Eaton Vance Management now owns 826,220 shares of the solar energy provider’s stock valued at $35,618,000 after purchasing an additional 87,484 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.
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Nextera Energy Partners Company Profile
Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.
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